Trustmark National Bank, a wholly-owned subsidiary of Trustmark Corporation and Agility Bank (in organization) are pleased to announce that the companies have entered a strategic collaboration agreement to highlight the strengths and deepen the community commitment of both banks as part of the Project REACh Initiative with the Office of the Comptroller of the Currency.
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The Project REACh Initiative, standing for Roundtable for Economic Access and Change, encourages meaningful partnerships to assist minority-owned banks to be important financial resources in their communities and a vibrant part of the economic landscape. Agility Bank (in organization) will be the first primarily women-owned and led Minority Depository Institution (MDI) organized for this purpose in the U.S.
“This is truly a unique opportunity to reach deeper into the areas we serve to meet the growing needs of women and all minority business owners,” said Duane Dewey, Trustmark CEO. “Women-owned businesses are growing at twice the rate of all businesses nationwide, and we are committed to supporting this growth.”
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Trustmark will share educational and marketing activities in local communities to ensure more information is put into the hands of those who have developed businesses and those who aspire to become business owners. In addition to an equity investment in Agility, Trustmark also will share in loan participations and deposits, as well as provide access to its comprehensive range of personal and business banking services.
“We are particularly excited about this relationship with Trustmark given its history in its communities and the opportunities to support women and minority-owned businesses,” noted Lauren Sparks, Founder, Chair and CEO of Agility Bank (in organization). “The growth of these companies is key to the continued success of our communities.”
“The collaboration between Trustmark and Agility Bank is an excellent way to highlight our continued commitment to women and minorities who have formed companies that greatly support the economy,” said Dewey.
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